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Small Bay Daily - November 5 - ZS Capital Partners buys Boulder, CO small bay for $9.4M

Small Bay Daily - November 5 - ZS Capital Partners buys Boulder, CO small bay for $9.4M

ZS Capital buys Colorado small bay. Velocity Ventures buys Pennsylvania small bay. BKM buys Arizona small bay. L&A brokers California small bay. Matthews leases shallow bay in Florida. Six new small bay listings.

Katherine Peach
November 05, 2024

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NEWS ROUNDUP

ACQUISITION: ZS Capital Partners buys small bay in Boulder, CO for $9.4M. ZS Capital Partners has acquired 1500 Kansas Avenue in Longmont, Colorado, a Boulder suburb. The property features 4 small bay flex warehouses for a total of 57,600 SF. The site is currently 100% leased by 11 tenants. ZS Capital, which is led by Derek Conn and Spencer Pariser, was unrepresented in the deal. Jeff Heine with SVN represented the seller, Alice & Sage Development.

Velocity Ventures buys Pennsylvania small bay

DISPOSITION: Velocity Venture sells small bay facility in Philly area for $59M. Velocity Venture Partners has sold the Yeadon Industrial Center at 6250 Baltimore Avenue in Yeadon, Pennsylvania. The property features a 450,000 SF industrial building on 26.6 acres. Newmark’s Ryan Guittare facilitated the sale to an undisclosed buyer. Jim Badolato and Adam Rudman, also of Newmark, secured acquisition financing for the buyer, while John Cook assisted in the transaction.

ACQUISITION: BKM and partner buy small bay park in Phoenix, AZ for $21.6M. BKM Capital Partners and an undisclosed partner have acquired the Wier Thirty6 Business Park, located at 3610-3660 East Wier Avenue and 4633-4645 South 36th Street in Phoenix, Arizona. The property features 9 buildings totaling 104,146 SF on 5.8 acres. The acquisition is part of BKM’s recapitalization of the site, which it initially acquired in 2018 for $8M. Cushman & Wakefield’s Bob Buckley, Tracy Cartledge, Will Strong, Michael Matchett, and Molly Hunt brokered the deal. The BKM deal team was led by Brian Malliet and Brett Turner.

ACQUISITION: Investors buy small bay asset in Palm Bay, FL for $6.3M. Ben Genet of Genet Property Group and Hersh Equity Group’s Juda Hersh and Corey Schwartz have acquired 2510 Kirby Circle Northeast in Palm Bay, Florida. The property features 3 buildings totaling 57,840 SF. Adam Steinlauf and Michael Lewin with Katalyst RE & Development represented the seller, Frederick Stein.

ACQUISITION: L&A brokers sale of small bay in Escondido, CA for $3M. Lee & Associates represented the buyer in the sale of 475 Corporate Drive in Escondido, California. The property features an 8,593 SF industrial building with a large fenced storage yard. The L&A deal team included Jake Rubendall, Rusty Williams, and Chris Roth. Christian Nelson with Matthews, Jim Benson with Kidder Mathews, and Brad Goodman with Chicago Title assisted in the transaction. (If you like the idea of fenced storage yards, check out our sister publication IOSList!)

LEASE SIGNED: Matthews leases shallow bay units in Naples, FL. Matthews RE Investment Services has facilitated the leases for 3 units at 3784 Domestic Avenue in Naples, Florida. The leases total 4,900 SF and bring the property to 100% occupancy. The Matthews deal team of Michael Buonadonna and Harrison Auerbach represented the property’s owner in the transactions.